Kwara announces plan to support young entrepreneurs in the state with huge interest-free loans

Kwara state government has announced plans to support young entrepreneurs in the state with huge interest-free loans, in an effort to invest in and raise a new generation of successful young men and women. 

According to a statement by Kwara State Social Investment Programme (KWASSIP) Ag. General manager, Mohammed Brimah, saying that the program is being coordinated by KWASSIP, Kwapreneur is open Kwarans with viable and scalable business ideas that are not more than 35 years old. 

He stated that registration is open through http://www.Kwapreneurs.com. Application runs from May 10 to May 18, 2021.

The general manager said, 

"The first phase of the programme targets at least 300 youngsters with viable business proposals, the statement said, adding that at least 1,200 young people will benefit from the initiative over the next four years.

"Successful applicants will be trained and supported with interest free loans ranging from N350,000 to N3,000,000 each, depending on the scale of their proposed businesses."

Brimah stated that Kwapreneur has been designed to harness the potentials of enterprising youths and raise a new generation of leaders through sustainable empowerment, thereby spurring socio-economic growth and job creation in the state. 

"Young people are to the nation what the heart is to the body. They drive and make it beat. Kwara under this administration believes in the talent and industry of her youths. To hasten economic development, we need them to become employers of labour. This is why we are to support young people with visionary ideas with interest- free loans for their businesses," he said. 

While stating that the application process will be in stages, KWASSIP boss disclosed that the youths-oriented programmes under them are numerous, and they have previously organized training for about 15,000 youths in basic digital skills, while also looking at hitting the 30,000 mark in the next two years. 

He said the programme will give successful applicants between N350,000 - N3,000,000 interest-free, while looking to equip them with skills, knowledge, and opportunities to become sustainably empowered in the society. 

"No Kwaran covered in this age bracket is excluded. All entries will be judged by experts and professionals on their economic value. The most viable ideas will find their way through. We have put in place a free, fair and credible process to make it work. It is a non-interest loan. The icing on the cake is that beneficiaries have three months moratorium on the loans before they start refunding in tranche. Kwapreneur is a good opportunity to move from unengaged to an employer of labour and we trust that the youths will make the best of it," he added.